Precision Business Insights has published a report on the global plant-based beverages market, estimating its value at USD 20.2 billion in 2024 and is expected to expand at a compound annual growth rate (CAGR) of 9.6% over the forecast period 2025-2031. The report explores the market growth and potential opportunities in the market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.
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The plant-based beverages market refers to the industry focused on drinks made from plant-based sources, such as soy, almond, coconut, oat, and rice. These beverages are often used as alternatives to dairy products and are popular among health-conscious consumers, vegans, and those with lactose intolerance. They are valued for their nutritional benefits, including being low in fat and cholesterol, and for their contribution to sustainability.
Drivers:
1)Sustainability Concerns: Environmental awareness is encouraging consumers to choose products with a lower carbon footprint, such as plant-based beverages.
2) Health Consciousness: Increasing awareness about health and wellness has led consumers to seek alternatives to traditional dairy products. Plant-based beverages are often perceived as healthier options due to their low fat and cholesterol content.
The global plant-based beverages market segmentation:
1) By Product Type: Almond Milk, Soy Milk, Coconut Milk, Rice Milk, Oat Milk, and Others
2) By Application: Dairy Alternatives, Sports and Energy Drinks, Infant Formula, Fortified Beverages, and Others
3) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, Online Retail, Specialty Stores, and Others
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Regional Overview:
The report also examines the current concerns and their Future Effects on the plant-based beverages market by the region. The report covers all regions and countries, North America was the largest and Asia was the fastest-growing region in the plant-based beverages market. The market has been segmented into numerous primary regions and a detailed evaluation of primary countries.
North America (U.S., Canada)
Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)
Latin America (Mexico, Brazil, Argentina, Columbia, Rest of Latin America)
Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)
The competitive landscape is dominated by major players like bayer ag (germany), abbott (u.s.), dsm (netherlands), dupont. (u.s.), amway (u.s.), the nature's bounty co. (u.s.), glaxosmithkline plc. (u.k.), nestlé sa (switzerland), ricebran technologies (u.s.), mead johnson & company, llc. (u.s.), medifast, inc. (u.s.)
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